MRC Foundation Events

Governance

The Committee of the Melbourne Racing Club is responsible for the governance of the Club.

Matters reserved for the Committee

The following matters are reserved for approval by the Committee and clearly define the limits of delegated authorities to Management:

Senior Appointments;

Matters relating to Committee and Senior Management;

Relations with Members and Stakeholders;

Financial Matters;

Strategy;

Capital Expenditure;

Operational oversight;

Internal controls and reporting systems; and

Affixing of the Common Seal.

Sub-Committees

The following Sub-Committees have been established to assist the Committee in carrying out its functions. Each Sub-Committee acts in an advisory capacity making recommendations to the full Committee.

Sub-Committee

Role

Meeting Frequency

Finance

To review and make recommendations to the Committee in respect of the financial affairs of the Club, budgetary review and general oversight of the Club’s financial affairs.

Monthly

Risk, Compliance and Audit

To assist the Committee in discharging its responsibilities with respect to risk management systems and protection of the Club’s assets and to oversee the Club’s relationship with internal and external auditors.

At least quarterly

Strategic Planning

To assist the Committee in the development of the Club’s strategic plan and develop recommendations for implementation of key strategic initiatives.

As required

Nomination & Remuneration

To assist the Committee in its oversight responsibilities on Committee selection, performance and succession planning, together with employee superannuation matters

As required

Property

To review and make recommendations to the Committee in respect of the property related matters of the Club including all freehold, leasehold and Crown land occupied by the Club.

Quarterly

Charity

To review and make recommendations to the Committee in respect of the charitable arm of the Club including fundraising initiatives, community activities and support to charities.